Ready to Write An Offer - 8 Big Questions to Answer

I've been working with a first-time home buyer for a couple of weeks now. We've been out 3 or 4 times to look at property and yesterday we went back to look at one a second time. He's really thinking that this might be the one.

Choosing which property to purchase is a big decision. BUT, it is only ONE of many important decisions that come with buying a property. That is why I like to begin the home buying process with a review of a purchase contract before we begin to look at homes. That way, buyers can have some time to think through the decisions before their emotions are tied up into a particular property.

In general, these are the questions that need to be answered as we sit down to structure your purchase offer:

• What price are you thinking of offering?
• Will you be getting a mortgage? And if so, how much do you plan to put down?
• Will your offer be contingent on inspections (engineer, radon, chimney, pest, other)?
• Do you have a house to sell? Will your offer be contingent on selling that house?
• What personal property do you plan to ask for (appliances, window treatments other)?
• When would you like to close on the property? Are there any special possession requirements (early possession, rent back to seller, etc)?
• How much of a good faith deposit do you plan to put into escrow? (Generally due in 48 hours)
• What attorney would you like to represent you at closing?